If this is the case, then a world class regulator should be characterised by a strong reputation for being trust worthy. This means:. In my experience, a reputation for trustworthiness is only achieved through a robust governance structure that encompasses culture, people and processes, and practices that embed the principles of good governance in everyday operations. As world class regulators, we have to be accountable for what we say and do.
We must also review, measure and report on our performance in a clear and transparent way. The public needs to have confidence and trust in the independence of regulators and their decisions.
So, it is fundamental that the regulator be free from interference, undue influence of government of the day or political parties, and also from the sector being regulated or other vested interests.
The second key element is a proper and clear purpose. This drives the values and culture of the organisation from the highest level through to all staff. The purpose of the organisation should be clearly reflected in its governing rules and it should flow through to its strategic priorities and be embedded in its practices and procedures. Commissioner appointments are made by government for a fixed term and appointees can only be removed under exceptional circumstances.
Our remuneration is independently set and publically disclosed. All staff of the agencies, including Commissioners, must adhere to the Australian Public Service Code of Conduct, which covers values, employment principals, and ethics. In terms of purpose, I think it is generally accepted that regulation should be for the benefit of the public and the benefits must be clear and must justify the costs.
The purpose of the ACCC and AER is clearly stated in our legislation the Competition and Consumer Act and that is to enhance the welfare of consumers through the promotion of competition, fair trading and consumer protection. This is then developed into a set of strategic priorities and work programs for each division of the organisation.
The third key element of the governance framework is authority. To be effective a regulator needs to be trusted to do the right thing. It not only needs appropriate powers, it also needs to be able to demonstrate that it acts within authority and appropriately uses its powers properly. On this last point the ACCC and AER annually publish their compliance and enforcement policies, which cover the goals of enforcement, why we take action, how we give priority to matters, how we exercise our discretion and what other options we might take.
The final element in the exercise of these powers is that regulatory decisions should be open to scrutiny. Importantly, they should be open to external review by independent bodies. These include judicial review, which essentially focuses on our processes, and merits review, which looks at whether there is a substantive error in our decisions.
It is of course one thing to have the powers to be effective but without adequate resources, the task becomes more difficult. Supporting staff to take risks and be prepared to fail is critical to successful regulation A regulator must be prepared to take a risk and mount a potentially unsuccessful challenge to advance its agenda.
Tags: regulation. Get the latest thinking from Nous direct to your inbox. I have read and understood the Nous Group Privacy Policy. Regulating for disruption Claire Noone.
Regulation is often decried as a threat to innovation and…. Beyond red tape — regulating to improve growth Claire Noone. Regulation that improves growth is more valuable than simply cutting…. We use cookies to improve your experience of using this website. By continuing to use this website you have consented to using cookies placed on your computer. To find out more please refer to our Privacy Policy.
Black Lives Matter. In light of how Black Americans are adversely impacted by governmental action, improving regulatory systems and the behavior of regulatory personnel remains an essential avenue for delivering on the promise of equal justice for Black Americans, as well as for Indigenous and other minority communities who face oppression and discrimination in this country and around the world.
He told the webinar that the police chief of the City of Camden, New Jersey, had shown a way forward by marching alongside protesters, and helping the city to remain calm during and after protests. Leadership matters, training matters, adequate pay and resourcing matters but fundamentally regulation is a relational enterprise. Avoid bureaucracy and keep costs low. You are commenting using your WordPress. You are commenting using your Google account.
You are commenting using your Twitter account. You are commenting using your Facebook account. Notify me of new comments via email. Notify me of new posts via email. Skip to content Medical regulators, such as the General Medical Council and its international peers, face a rapidly changing environment, with heightened patient expectations, new technologies, and global hyper-mobility of health practitioners raising new and challenging issues for the safe regulation of health practitioners.
Like this: Like Loading Well done. Leave a Reply Cancel reply Enter your comment here Fill in your details below or click an icon to log in:. Email required Address never made public. Name required. Follow Following.
0コメント